Business

Zambia takes 40% entrepreneurship lead

KALONDE NYATI, Lusaka
RESEARCH by Global Entrepreneurship Monitor (GEM) has revealed that Zambia is taking a lead in entrepreneurship on the continent, recording almost 40 percent.
GEM, which analyses the state of entrepreneurship around the world, has revealed that sub-Saharan Africa has the highest number of people engaged in early stage entrepreneurial activity, with Zambia and Nigeria recording 39.9 percent.
Other countries are Ecuador at 36, Malawi 28.1 percent, Ghana at 25.8 percent and Uganda 25.2 percent.
According to the 2014 report issued by Nyamuka Zambia, a private enterprise programme funded by the United Kingdom government’s Department for International Development on Friday, Zambia has in the recent years produced a number of upcoming entrepreneurs in various sectors.
The publication cites technology, fashion and restaurant business as being the main entrepreneurial activities.
“Some of the top names in these fields include Mawano Kambeu, owner of Dot Com Zambia, which is the country’s  largest online shopping platform, Faith Kabende, fashion designer and owner of Fay Designs, and Lillian Elidah Mumba, chef, food writer and owner of Twaala Kitchens,” the report states.
The research has also revealed that Zambia has recorded the largest number of female entrepreneurs.
GEM data from its 2014 annual report shows that 40.7 percent of adult females in Zambia are engaged in some form of entrepreneurial endeavour.
This was the highest percentage reported globally and puts Zambia well ahead of the world’s developed countries including the UK at 5.5 percent, Norway 3.6 percent and France at 3.1 percent.
“From the streets to the boardroom, Zambia’s female entrepreneurs are becoming more visible. We have women supporting themselves, sending their children to school and making a living from selling goods at markets while others have reached their peak,” the research states.
GEM cites Miyanda Maimbo, founder Prosoft Group of Companies, Monica Musonda, founder, of Java Foods, Cathy Phiri, managing director of Media 365 and Sylvia Banda, an entrepreneur involved in catering and food processing, as some of the leading female entrepreneurs.

Facebook Feed

Ad1